September 23, 2021

Automobile manufacturers are preparing to make the changeover to electric vehicles

As the automotive industry turns to electrified vehicles, leading manufacturers have announced that they expect to phase out or substantially cut manufacturing of internal combustion engines by the year 2030.

Daimler, the developer of smart cars and Mercedes Benz, was the most recent to announce its plans, aiming to be completely electric by 2030, five years ahead of the European Commission’s deadline.

The following is a list of who will do what and when.

Daimler

Daimler intends to invest more than €40 billion in electrifying all of its automobiles by the decade’s conclusion. In 2025, all Mercedes “architectures” —motor, chassis, and wheels — will be fully electric. Daimler also plans to build eight plants to make the vehicle’s most important component, the batteries.

Stellantis

Fiat, Jeep, Chrysler, and Peugeot are among the Stellantis companies that have discontinued internal combustion engine production and intend to spend €30 billion on electrifying their vehicles by 2025. Opel claims that by 2028, Europe will be completely electrified. Fiat will follow suit once the cost of electric vehicles is comparable to that of gasoline-powered cars, which is projected between 2025 and 2030. In 2024, the company’s Dodge subsidiary in the United States plans to launch an electric “muscle vehicle.” In the same year, the company’s Ram pickup series will introduce an electric version of the popular 1500 model.

Volkswagen

The German powerhouse hopes to be the world’s largest manufacturer of electric vehicles. Its ID3 model, which will be released in late 2020, is competing with Tesla for the first position in the European electric market. Electric vehicles are predicted to account for 50% of all the orders in VW’s key markets by 2030 and “almost 100%” by 2040. It has put aside €73 billion in funding and plans to develop a global charging network, similar to Tesla. VW’s high-end Audi brand aspires to be all-electric by 2033. Lamborghini anticipates all of its sports automobiles to be hybrid by the end of 2024.

Volvo

Volvo, a Chinese multinational controlled by Geely, plans to wipe out the internal combustion engines, particularly hybrids, by 2030. Bentley and Ford have the same deadline in Europe. Volvo Chief Executive Officer Hakan Samuelsson projected in March that half of all automobiles would be electric by 2025.

Jaguar and Land Rover

Tata, an Indian corporation, owns these iconic brands and plans to invest a large chunk of its £2.5 billion annual investment budget in electric cars. Jaguar aims to be completely electric by 2025. Hyundai-Kia, Toyota, GM, BMW, and Renault are among the others.